When the Monopolists Maximizes Profits the Price Elasticity of Demand

question 10

Multiple Choice

When the monopolists maximizes profits the price elasticity of demand for widgets is:

• A)9
• B)36
• C)0.5
• D)0.02

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Definitions:

Sensory Adaptation

The mechanism by which sensory receptors diminish their reaction to persistent stimuli over a period.

Kinesthesis

The faculty for discerning the placement, load, or kinetic changes of muscles, tendons, and joints.

Basilar Membrane

A key structure in the cochlea of the ear, which plays a critical role in the process of hearing by vibrating in response to sound.

Semicircular Canals

are three fluid-filled tubes in the inner ear that help maintain balance by sensing rotational movements of the head.